1.         Subject of the Project and terms of conduct and participation:

1.1. The Organizer of the Pitch Contest for Women Business Ideas in Georgia is NOBLET MEDIA LIMITED, a company registered under the laws of Cyprus, registration number HE 173925, having its registered office at Mpoumpoulinas 1-3, BOUBOULINA BUILDING, Flat 42, 1060, Nicosia, Cyprus (hereinafter – “Organizer”).

1.2. The Partner of the Pitch Contest for Women Business Ideas in Georgia is the Business Federation “Women for Tomorrow” (a company registered under the laws of Georgia, registration number: [i/n 405068787]] (hereinafter – “Partner”) and supported by USAID Economic Security Program.

1.3. The Business Contest is implemented with the support of the Visa International Service Association. Location: 900 METRO CENTER BLVD FOSTER CITY, 94404, UNITED STATES (hereinafter referred to as “Visa”).

1.4. The Pitch Contest for Women Business Ideas in Georgia is a public contest. The terms and rules of conduct are regulated by the agreement between the organizer and partners and by the relevant laws of Georgia.

1.5. The contest is conducted under the fourth wave of She’s Next, Empowered by Visa campaign in Georgia.

1.6. Visa, under the fourth wave of She’s Next, Empowered by Visa, in partnership with “Business  Federation “Women for Tomorrow” and USAID Economic Security Program continues the empowerment of women entrepreneurs in Georgia. Any adult woman, who has and wants to validate her business idea is invited to participate in the project. To participate in the project, the applicant must be an adult of the full legal age and a citizen of Georgia, according to the legislation of Georgia.

1.7. For participation in the project, interested candidates must fill out the registration form no later than December 17, 2023.

The registration form link: https://forms.gle/ybCTW9TeLXNGj18h6

The online application form will be published on communication channels of  Visa, Business Leaders’ Federation Women for Tomorrow, USAID Economic Security Program.

Note: Only ONE business idea from ONE applicant can be registered according to paragraph 1.6.

2. Terms and Stages of the Project

2.1. The First stage of the project, namely the acceptance of online applications defined under article 1.6. will be held from December 6 to December 17 (including). Persons who fit the criteria provided under article 1.6. are authorized to apply.

Note: The jury consists of 5 members. The selection committee includes subject matter experts and specialists in branding, digital technologies, bank products, sales, marketing, communication, and investment; The jury does not have a chair and is composted by the organizers of the contest. The winners will be determined by secret ballot. The composition of the jury is strictly confidential and they will be identified according to paragraph 2.6. (see below).

Organizer of the contest has the right to change number of the jury members according to the date, provided in paragraph 2.2.

2.2. After receiving the applications, the selection process of 10 (ten) female participants will start on December 18, 2023, and the decision of the jury will be made by December 26, 2023. The process includes examination and selection of received applications. The decision of the jury will be made solely based on the information provided in the application form and all the other relevant documentation that are annexes required by the very same application form filled by the applicants. The jury operates under its full discretion and is not obliged to make a decision in favor of any participant.

1.3. The decision of the jury is based on the principle of a simple majority for each participant. The jury's decision will be final and not appealable. Selection criteria, see below:

Selection Criteria:

Selection of the candidate shall be based on the following primary criteria:

1. Clear and coherent narration. Candidate must have a clear vision of her project/business idea, evaluated as a business perspective by jury members;

2. Innovative product. The product shall be novel or significantly enhanced that goes beyond mere cosmetic alterations compared to any other product created or produced by another individual or a company.

3. Vision of disruption. The applicant must possess a well-defined vision of:

3.1. outlining the approach and illustrating the advantages it offers;

3.2. how this product will disrupt the market, including identifying competitors, target customers/audience,

4. Cost structure and Revenue streams. The applicant must clearly define the budget - Cost structure and Revenue streams for

6 months/1 Year period:

4.1. The cost structure: How they will spend money granted from the project. (Expenditure on fixed and variable costs).

4.2. Revenue Streams: The sources from which the business will earn money from the sale of goods or the provision of services;

5. Social Responsibility.  Business/Business idea should include a component of social responsibility (Not obligatory)

6. Digitalization. Business/Business idea should contain the component of digitalization;

Note: Score for each criterion: 5 points (where 5 points is the best score, 0 points – the worst score)

- Score 0 (Very Poor) – The proposal fails to address the criterion or cannot be assessed owing to missing or incomplete information.

- Score 1 (Poor) – The criterion is inadequately addressed, or there are serious inherent weaknesses.

- Score 2 (Fair) – The proposal broadly addresses the criterion, but there are significant weaknesses.

- Score 3 (Good) – The proposal addresses the criterion well, but a number of shortcomings are present.

- Score 4 (Very Good) – The proposal addresses the criterion well, but a small number of shortcomings are present.

-  Score 5 (Excellent) – The proposal successfully addresses all relevant aspects of the criterion.

1.4. The following stage of the project will be held from January 11, 2024, and will finish no later than January 22, 2024. This process includes the following stages:  selected 10 female SME representatives will participate in offline training and consulting sessions. These TOP 10 SME representatives will be assisted by providing 5 full-day training and consultancy sessions to learn how to write a business idea as a business plan and turn it into an effective presentation to present to potential investors in the shortest possible time. The training and consultancy sessions will be provided under Visa’s, Business Leaders’ Federation “Women for Tomorrow’s” and USAID Economic Security Program partnership.  Out of the TOP 10 SMEs will be selected 3 winners by jurors and be awarded monetary prizes and business mentoring sessions to successfully launch the business idea, aaccordingly:

•   Each winner (three women) will be awarded with monetary prize 10 000 (Ten Thousand) Georgian Lari

• Each prize-winning participant will undergo business mentoring session, offered by Business  Federation “Women for Tomorrow”

2.5 Information on selected TOP 10 female candidates will be available on Visa’s platforms as well as communication channels of the partner. Additionally, each of them will receive the answer via emails, provided in the application form.

2.6 After successfully completing training/consulting sessions, the TOP 10 (ten) women will pitch (Visa Elevator Pitch format,3 minutes duration each) their business idea in front of the jury in presentation format. The jury will select 3 (three) winner participants out of presenting 10 (ten) – according to the bellow mentioned criteria on pitching day:

      Selection Criteria during pitching session: 

1. The presenter will be evaluated by her knowledge, acquired in the frame of consultancy sessions;

2. By effectively conveying information about their business ideas presented in the given time slot – 3 minutes;

3. The presenter should deliver a presentation on brand strategy and it must be relevant to the criteria provided in paragraph -2.3.

4. Information on the selected 3 winners will be available on partner’s communication channels. Additionally, each of them will receive the information via email address, provided by them in the application form.

5. Each participant will have 3 minutes to deliver the presentation and 5 – 7 minutes for Q&A with jurors.

2.7. Information on winners will be available on partner’s communication channels. 

Format of delivering presentations and trainings: Offline

Participants receive further details on a pitching day in advance, date and time through email addresses, indicated in the application form.